Deadly diseases like malaria, tuberculosis and HIV that afflict the world's poorest the most can be eradicated, Microsoft founder Bill Gates said, but he worries austerity measures could clip some public funding.

Yahoo CEO Marissa Mayer is confident that her company will be able to capitalize on the explosion in mobile communication, saying Yahoo will focus on strong partnerships with Apple, Google and Facebook.

Spanish finance minister Luis de Guindos ruled out a full-scale bailout package on Friday, suggesting that the recession-stricken country no longer needs external aid as investors pile into Spanish debt.

Davos is an opportunity for the rich and powerful to schmooze in the Swiss resort town of Davos. And it's an opportunity for the media covering them to...well, work a lot of hours and schmooze a bit, too.

Investors worldwide continue to be skeptical towards Russia, confounded by whether real reforms will bring structural changes. During the World Economic Forum, the Russian delegation has been trying to reassure investors in order to reverse capital outflows that have reached more than $350 billion since 2007.

European Central Bank President Mario Draghi said on Friday that financial markets are experiencing "relative tranquility" at the start of this year and all the indices point to a substantial improvement of financing conditions.

Business leaders, politicians and labor organizations warned on Thursday that urgent action needs to be taken to prevent Europe's youth from becoming a lost generation, a development which could have severe social consequences.

Lawrence Summers told delegates at the World Economic Forum that the U.S. was right to focus on its budget deficit, but should also make the most of "negligible" long term interest rates to improve healthcare and education.

CNBC's Maria Bartiromo reports from Davos, Switzerland, at the World Economic Forum, where CNBC will be interviewing some of the biggest names in business. She will be talking to George Soros, Jamie Dimon, Bill Gates and others.